Associate Hourly Billing Rates Surge Past $1K in US as Firms Snap Up Bankruptcy Work

Rates for top associates at firms such as Weil, Gotshal & Manges and Kirkland & Ellis are rising just as a new wave of Chapter 11 bankruptcies gather steam. A filing shows J.Crew paid its lawyers at Weil close to $12 million in the 90 days before the company filed for bankruptcy this month.